CPE Technology Bhd is investing RM34.52 million in new manufacturing equipment through its wholly owned subsidiary, Champion Precision Technology Sdn. Bhd. (CPT), to support business expansion and improve operational efficiency.
The precision engineering company said CPT had completed the acquisition of machinery from various vendors for a total consideration of RM34,518,470.
The purchase will be funded through a combination of cash and loan financing.
CPT, which is wholly owned by CPE Technology, is principally involved in the manufacture of precision machined parts and components using computer numerical control (CNC) turning and milling technology, as well as providing CNC turning and milling services.
The company said the acquisition is intended to meet both its current production requirements and anticipated future demand as the group expands its manufacturing operations.
According to CPE Technology, the investment will enhance production capacity, improve operational efficiency and strengthen the group’s ability to support future business growth.
The company did not disclose the number or types of machines acquired, nor the identities of the vendors involved in the transactions.
CPE Technology said the machinery acquisition forms part of its ongoing capital expenditure programme to reinforce its manufacturing capabilities and support long-term expansion plans.
